Changzhou City, China, March 30, 2023 (GLOBE NEWSWIRE) -- Jin Medical International Ltd. (the "Company" or “JinMed”) (NASDAQ: ZJYL), a Cayman Islands holding company with Chinese operating entities that manufacture and develop wheelchairs and living aids products, today announced the closing of its initial public offering (the "Offering") of 1,000,000 ordinary shares (the "Ordinary Shares") at a public offering price of $8.00 per share for total gross proceeds of $8,000,000, before deducting underwriting discounts and offering expenses. In addition, the Company has granted the underwriters an option, within 45 days from the closing date of the Offering, to purchase up to an additional 150,000 Ordinary Shares at the public offering price, less underwriting discounts, to cover over-allotment, if any. The Offering closed on March 30, 2023 and the Ordinary Shares began trading on March 28, 2023 on The Nasdaq Capital Market under the ticker symbol "ZJYL".

About Jin Medical International Ltd.  Founded in 2006 and headquartered at Changzhou City, Jiangsu Province of China, the Company, through its Chinese operating entities, designs and manufactures wheelchairs and living aids products for people with disabilities, the elderly, and people recovering from injuries. The Company’s Chinese operating entities operate 2 manufacturing plants with approximately 228,257 square feet in the aggregate in Changzhou City and Taizhou City, Jiangsu Province, China. The Company’s Chinese operating entities have established relationships with over 40 distributors in China, and over 20 in the other regions of the world where it currently sells the products. The majority of its wheelchair products, with more than 30 models, are sold to dealers in Japan and China, including Nissin Medical Industries Co., Ltd, one of the largest medical device distributors in Japan. The Company’s Chinese operating entities own 106 patents and are in the process of registering 22 additional patents with the Patent Administration Department of the People’s Republic of China and continuously deliver innovative wheelchair designs that are both lightweight and ergonomic each year. For more information, please visit: http://www.zhjmedical.com.